The FISD board of trustees approved its $943.4 million budget during a June 20 meeting. Discussions surrounding the budget stretch back months, with board members most recently discussing it and its shortfalls at a June 12 public hearing.
In a nutshell
Here is a quick breakdown of what will be included in the $943.4 million budget:
- $738.3 million in the general fund
- $28.7 million in the child nutrition fund
- $176.3 million in the debt services fund
- $24.4 million potential shortfall
- This is the second year in a row FISD officials have adopted a deficit budget.
There are still some unknown variables influencing the budget, such as any future aid from the state, which recently left $17 billion in potential property tax relief and school funding on the table, according to a statement from Kimberly Smith, the district’s chief financial and strategy officer.
“[District staff has] done an incredible job at being conservative with and being good stewards of the district’s finances, especially when we are months away from having any kind of understanding as to how the state will actually participate in public education in the year ahead,” Board Member Rene Archambault said.
Board Member Stephanie Elad spoke against adopting the budget with a shortfall altogether, stating it was following a new pattern created by the district when it adopted its first budget with a shortfall in 2022. Before then, the district had a history of balanced budgets, Elad said.
“We can and must do better,” Elad said.
The budget ultimately passed 6-1 with Elad as the sole vote against it.
Items worth mentioning
Another feature affecting the next school year is the district’s priorities, which board members approved unanimously. District priorities are what help guide the board of trustees and district leaders over the course of the school year, according to an FISD news release.
Here are the district’s official priorities for the 2023-24 school year:
- Frisco ISD staff will be equipped to ensure student behavior does not interfere with the learning environment.
- Frisco ISD students will be agents of their own learning with access to differentiated, meaningful and relevant opportunities for growth.
- Communication between Frisco ISD and its stakeholders will reflect a strategic, coordinated effort to engage and inform the school community.
- Frisco ISD staff will experience a positive working environment that encourages professional growth, fulfillment and retention.
The new plan will give a $1,200 raise to all of its teachers and an approximately 1.5% raise to all other staff based on their daily hours.
- Staff working more than four hours per day will receive at least $600.
- Staff working less than four hours per day will receive at least $300.
District officials will continue looking for ways to balance the budget and possibly increase the staff’s raises if more funding becomes available, Board Member John Classe said.
“Hopefully we get some [legislative] relief in September,” Classe said. “Then we can come back and amend the budget.”
Board members will also meet again in August to vote on the district’s tax rate after they receive updated appraisal values in July.
- As of June 20, the proposed tax rate is $1.20 per $100 valuation.
- The tax rate for FY 2022-23 is $1.21 per $100 valuation.
